Ironic you should use the phrase "selling out"! Yes the Dragon privy sold out and all the re-minted kooks will also sell out. Why wouldnt you buy them at bullion prices if you like kooks? I purchased re-minted mouse. That's not the issue. Even at 500'000, it's not a lot of dragons but it's still 66% more dragons than 300'000 dragons. The extra 200'000 represent 40% of the mintage leaving the original 300'000 representing only 60% of the available 1oz 2012 bullion dragons. I made investment decisions based on previous years sales and performance and the assumption that there would only be 300'000 1oz Perth mint 2012 bullion dragons made. More dragons = more supply = easier to find = lower prices in the secondary market. The mouse would be on par or more expensive than the ox if it wasn't re- minted, but at least that wasn't a 20yo coin. The secondary market for these will recover to some extent, as we've seen a small recovery with the mouse but they will never reach the prices they would have without re-minting.
To be clear I don't agree with Perth mint practices .. at the very least their decision to release them to the market in such an underhanded manner is downright criminal. They dont seem to care what we say as a forum ... so that seems the only way to make a stand is not to purchase them in the first place. I didnt buy any of the lion privy dragons .. and nor will I be buying any of these remint kooks. Thats how I choose to show my distaste for their current practices.
Why ? It is rarer than a bullion.I thought collector coins were all about mintage . I know nothing about coin collecting so excuse the stupid question Is it just because the bullion is part of the lunar series?
Yep, someone aiming for a 1oz set of 12 wouldn't be substituting the privy dragons for a bullion one in a set. In the long term though, who knows, the privy version could fetch higher prices because of the lower mintage.
That seems to be what happened with some of the 97 privy kooks Shilling and Florin privy are selling for more than bullion
For rolls of 20 I like the 2011's at $745 then the 1992s $725 then the 2012s $745, but im thinking buffalos at $673 or libertad 1982 for $709 or 1/2 Taku 2012 for $373.69 (my pick at the mo) 1for1
Privys have a higher retail price, by the secondary market sales id say over time the prices come close to merging, the privys are a niche market so finding buyers prepared to pay premiums is the tricky aspect. In my experience i have found the privy versions harder to shift as people are usually just completing the regular sets. 1for1
The thing that's made the Lunar series so popular is that you can complete a set on a 12 year cycle (unlike the Kooks and Koalas that have no end date). As there are no privy (yet!) coins for the first 4 of there Series 2 Lunar sets, you cant make a set of Privy Series 2 coins. I doubt the privy will ever command a premium over the non privy dragon. That being said, when the 2013 Snake comes out in a few months, if they are like $60 a coin like the Dragon was forget it, I'll be buying ZERO and waiting for March to buy the Privy version instead. Its a simple analysis of silver coins at the best value and $60+ for a non-privy 1oz silver bullion Snake doesnt stack up (assuming spot is circa $30/oz).
You may not have to even wait until March.. the act of parliament has already passed for the privy snake - done together with the privy dragon from what I remember They can mint those at any time they like.
Agree, but what market does the 1oz bullion privy dragon appeal to? Only people that want a Perth mint 1oz dragon are going to buy them. Not everyone buying dragons is trying to complete a set. Im sure there are plenty just buying key years or the lunar of thier own birth year. For these people the privy is perfect. Simple supply and demand. A certain amount of people are chasing 1oz PM bullion dragons, insert 200'000 privys to satisfy a certain sector of that market and the remaining 300'000 have less appeal.
^^^ Correct. In economics its called product substitution eg. cant afford VB so some consumers switch from VB to Carlton Draught. Result? Sales of VB fall and thus price needs to be lowered in order to have the same number of sales.
And one roll just got sold on feebay for $750 by BB.$750 minus fees =$700. Couldn't we deserved that price?
well... and then no reply when I asked if they were in their square capsules. For the price they were asking at the start of this fiasco it's understandable I'm not the only one who is already down on his investment.
